Feb 15, 2021 12:10 AM EST
Stock prices ended on Friday higher, so much higher than expected. Many factors were at play to produce this unanticipated outcome.
For one, investors were naturally encouraged by the economic data, which reveals some great rebounds from the depletion they experienced because of the COVID-19 pandemic.
While the pandemic is still ongoing, all economic indicators seem to be doing better, attracting investors to the trading game once more --not to mention the existence of vaccines and their prospective rollout. While vaccine talk and debates are still happening, investors are just relieved that they are here. A fresh round of COVID spending further boosted this optimism.
Another factor is how the stock market has witnessed strong corporate earnings from some of the largest S&P 500 companies that have reported their results thus far, shocking not just the investors but the companies themselves, who expected worse.
But can all these trends continue? Is the rebound likely to be lasting?
On Friday, stock prices all over seem to have ended at an energized level. Investors can only hope they stay that way or further improve.
For one, the Dow Jones Industrial Average added 27.70 points or 0.09%. It then ended the session at 31,458.40.
Furthermore, 3M (MMM) added 1.5%.
Overall, the previous week's last trading ended with the S&P 500 rising 18.45 points, or by 0.47%; it closed at 3,934.83.
Lastly, the tech-heavy Nasdaq Composite gained 69.70 points or increased by 0.50%. Investors were happy to see it ending at an all-time closing high close at 14,095.47.
The Dow Jones Industrial Average finished up 1%, after a 3.3% gain the week before.
After a 4.65% rise in the previous week, the S&P 500 ended the week with a 1.2% increase.
The Nasdaq Composite can be described as the most improved, rising 1.7%.
For the past weeks, the existence of the COVID-19 vaccines has boosted the market's spirits. The drugs' rollout sustained the momentum, more so when the seven-day average of vaccination doses given touched 1.66 million.
Although new COVID-19 cases are still being diagnosed and some infected are still dying,
the seven-day average of new cases fell below 100,000 - the lowest since early November. The same significant improvement in the pandemic situation can also be seen in the sharp drop in hospitalizations as people came into grip with handling their safety.
Investors looking to invest in these revitalized markets can check out the stocks below, which are anticipated to perform well by Wall Street experts, as Nasdaq reported.
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